¿How to properly spot S/R?

[PAAddict]

I have been observing the behavior of ES around Previous Days Lows and Highs, I definitely I can see how these levels provide supply and demand. I am still puzzled about the use of Opening range limits for decision making, and not sure yet about exactly where to define execution parameters, but I have learned a great deal about S/R provided by this PD Levels. Thanks for the help NQ

 

[PAAddict]

I gave it a try again today. I waited until S at 2969 was broken and took the first Short, this one was stopped out, so I waited either for a long above 2969 or a short if the downtrend continued. The short was finally taken and S at 2963 didn't show up. From there I was expecting prices to go all the way to 2949, but they stopped in the middle of the way at 2956. Any Idea what I missed here?

My short was finally closed at BE and then I took a long above S at 2963, but demand wasn't enough to break above 2969 again and the trade was stopped out.

 

[PAAddict]

And here is Friday, again Horizontal S/R Levels are enough as filters to take and manage the trades. Price risk is something that will be needed to be dealt with but is a good start for a trading system. Thanks for the insights NQ.

 

[murray t turtle]

I gave it a try again today. I waited until S at 2969 was broken and took the first Short, this one was stopped out, so I waited either for a long above 2969 or a short if the downtrend continued. The short was finally taken and S at 2963 didn't show up. From there I was expecting prices to go all the way to 2949, but they stopped in the middle of the way at 2956. Any Idea what I missed here?

My short was finally closed at BE and then I took a long above S at 2963, but demand wasn't enough to break above 2969 again and the trade was stopped out.

View attachment 205118

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Yes;
for intra- day s&r, check daily, weekly+ hourly, 50% hour. 5 minutes/candle 0r 5 minutes barchart is almost always noise. BUT even more; the DayTrading Co doesnt like 5 minute$ , too long LOL,[Edit note; if i had to use5 minutes+ i seldom do that= i could multiply X6 or X7=50% hour/+, or use 1 minute + X 30 or X33= > 50%] AS long as you profit i dont care if you use 6.66 seconds.LOL

 

[PAAddict]

This was two days ago, as we hit S after the open with a downtrend, the path was down, but prices reversed fast over the last swing high, meaning that the short was no more. After the next test a long was the way to go but before reaching R prices fell abruptly calling for a close at break even. These two extremes define my range. This range is broken after 11 AM But the breakout fails. No more trade opportunities occur for the rest of the day as prices remain inside the range.

 

[PAAddict]

Yesterday, Prices had more levels to deal with, at first there was an attempt to form an uptrend that was followed by a LH/HL and finally a break above the next level of R. After the next Ret a long was the way to go, prices reached the next level of R but no meaningful correction happened there., and then prices restarted the trend. There was some difficulty moving above 77 but they finally made it to 84 where the market closed.

So far we have observed trend days, range days and slower trend days, I call those channel days.

 

[eurusdzn]

Bigger fish were trading the 10 year note at a level not yet reached, in a higher time frame, at the time you were looking at your ES level.
Equities were just dragged along for that brief time, then , equities stopped following treasuries
for the rest of the session.
You mean to tell me you did not see that?

 

[PAAddict]

Yesterday, the day ended up turning into a congestion. It all started with an uptrend at the open, that breached R at 98 and 99 and kept on going making new highs but it stopped at 07 from where a downtrend started it fell rapidly through 99 and demand was found at 98 but it didn't hold, then prices fell again below 99 and the downtrend continued until they reached the same distance from 07 to 98 (Very interesting). There the trend went up but this time this new trend didn't reach new highs before setting a new downtrend below 98 again, from there it was just chop.

 

[PAAddict]

Bigger fish were trading the 10 year note at a level not yet reached, in a higher time frame, at the time you were looking at your ES level.
Equities were just dragged along for that brief time, then , equities stopped following treasuries
for the rest of the session.
You mean to tell me you did not see that?

Thanks for the insight, not currently looking at treasuries.

 

[PAAddict]

%%
Yes;
for intra- day s&r, check daily, weekly+ hourly,

Thanks